Bookkeeping and accounting services exist for the sole purpose of working with financial records. Business executives and owners can leverage their expertise to promote a better business life. The great thing about organized financial records and professional financial statements is the positive effect they have on your financial stakeholders.
- Your lender is eager to get regularly published financial information about your business.
- They want the information in a clear, consistent and factual format.
- Your lender can become more confident about your business risk profile and be a better advocate for your loan application when it passes before the bank credit committee.
- When your bank is more comfortable with your financial condition they tend to call and visit less often.
- Lenders get nervous and dig deeper when information is incomplete and delivered late.
When lenders describe your business as stable it can open opportunities. Bankers and investors seek out those prospects that are more creditworthy. This is especially true during financial crises when loan and investing underwriting gets tougher. Sometimes funding sources will call you to take their money because your financial records are complete and accurate which paints a great risk profile.
Clearly presented and accurate financial data can reduce your business risk profile. Get professional bookkeeping and accounting help. Why are you still doing your own financial record keeping?
- 3 Advance Steps to Prepare for Applying for a Loan (score.org)
- Raising Capital: How To Get Money For a Small Business (taxtipsselfemployed.wordpress.com)
- Bookkeeping Services for All Kinds of Businesses [Lawrence Perry] (ecademy.com)